Multiple Choice
Rita died on January 1,2014 owning an asset with a FMV of $730,000 that she purchased in 2010 for $600,000.Bert inherited the asset from Rita.When Bert sells the asset for $800,000 on August 20 of this year,he must recognize a
A) STCG of $70,000.
B) LTCG of $70,000.
C) STCG of $200,000.
D) LTCG of $200,000.
Correct Answer:
Verified
Correct Answer:
Verified
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